Clarivate Plc (NYSE:CLVT - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $3.99 and last traded at $4.00, with a volume of 201524 shares traded. The stock had previously closed at $4.07.
Analyst Ratings Changes
Separately, Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price objective on shares of Clarivate in a research note on Thursday, February 20th.
View Our Latest Stock Report on Clarivate
Clarivate Stock Performance
The business has a 50-day moving average of $4.91 and a two-hundred day moving average of $5.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market cap of $2.76 billion, a P/E ratio of -4.16 and a beta of 1.28.
Clarivate announced that its board has authorized a share repurchase plan on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Perpetual Ltd grew its holdings in Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company's stock worth $46,699,000 after purchasing an additional 1,816,936 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Clarivate by 82.5% in the 3rd quarter. Cerity Partners LLC now owns 202,204 shares of the company's stock worth $1,436,000 after purchasing an additional 91,384 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Clarivate by 112.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company's stock worth $7,387,000 after buying an additional 551,838 shares during the last quarter. Verition Fund Management LLC increased its position in Clarivate by 707.5% during the 3rd quarter. Verition Fund Management LLC now owns 157,540 shares of the company's stock valued at $1,119,000 after buying an additional 138,031 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after buying an additional 3,245 shares during the last quarter. Institutional investors own 85.72% of the company's stock.
About Clarivate
(
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Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.
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